Philip Morris Misr Announces its New Prices effective November 8th, 2024
Philip Morris Misr announces its new price list for all variants of its heated tobacco products ‘HEETS’ and ‘TEREA’, and conventional cigarettes ‘Merit, Marlboro and L&M’. • All variants of Marlboro will be sold officially at EGP 89 per pack. • All variants of Marlboro Crafted will be sold officially at EGP 74 per pack. The company’s current product portfolio primarily consists of cigarettes and smoke-free products. As of June 30, 2024, PMI’s smoke-free products were available for sale in 90 markets, and PMI estimates that 36.5 million adults around the world use PMI’s smoke-free products.
Source:Daily News Egypt
November 08, 2024 02:52 UTC
TMG reports record sales: EGP 53bn from Benan project in Saudi Arabia
Talaat Moustafa Group (TMG) has reported record sales, reaching EGP 470bn (equivalent to $9.4bn) as of November 6th. This represents a significant increase of over four times compared to the EGP 108bn recorded during the same period last year. The group’s new “SouthMed” project on the North Coast of the Mediterranean Sea has generated EGP 280bn (approximately $5.6bn) in sales. Meanwhile, the “Benan” project in Saudi Arabia, launched last May, has achieved remarkable sales of approximately EGP 53bn, exceeding its initial year-one sales target. The management of Talaat Moustafa Group believes its new business model will continue to leverage the company’s market leadership position.
Source:Daily News Egypt
November 08, 2024 01:44 UTC
Trial operation of Egypt's 1st environmentally friendly passenger terminal kicks off Thursday
CAIRO - 7 November 2024: Egyptian Aviation Minister Dr. Sameh El-Hefny is witnessing Thursday, the trial operation of the new Terminal 2 at Borg El Arab International Airport, which is located on an area of 40,000 square meters. Terminal 2 is the first environmentally friendly passenger terminal in Egypt, equipped in cooperation with the Japan International Cooperation Agency (JICA) to accommodate 4 million and 800 thousand passengers annually. It is one of the most important civil aviation projects within the framework of the transformation to environmentally friendly airports by exploiting solar and renewable energy, rationalizing energy consumption and reducing pollution. This comes in line with the strategic objectives of Egypt's Vision 2030, which aims to achieve the state's plan to stimulate incoming tourism to Egypt, increase passenger traffic, travel and development rates in various governorates. The operation on Thursday was attended by Pilot Montaser Manaa, Deputy Minister of Civil Aviation, Engineer Ayman Arab, Chairman of the Holding Company for Airports and Air Navigation, and Major General Ahmed Mansour, Chairman of the Egyptian Airports Company.
Source:Egypt Today
November 07, 2024 14:40 UTC
Planning a trip to northern Egypt? Looks like rain is on the horizon next week
CAIRO – 7 November 2024: Northern Egypt is gearing up for some showers, ranging from light to heavy, expected to kick off this Friday and persist through next Monday in certain areas. The Egyptian Meteorological Authority (EMA) reports that Matrouh is likely to see some moderate rainfall on Friday, potentially spreading lightly along the northern coasts and the northern Nile Delta regions. Expect a chilly start to the day in the early morning, with moderate temperatures throughout the day in northern Egypt and northern Upper Egypt, while things heat up in South Sinai and southern Upper Egypt. Here is a sneak peek at the average temperatures forecasted across Egypt next week, courtesy of the EMA:- Cairo and Lower Egypt – Highs: 24, Lows: 17- North Coast – Highs: 22, Lows: 17- Northern Upper Egypt – Highs: 25, Lows: 14- Southern Upper Egypt – Highs: 29, Lows: 17Also, keep an eye out for the 'El-Maknasa' storm set to hit the coastal governorates halfway through this month. El-Maknasa brings with it heavy rainfall and strong winds that can make temperatures take a dip.
Source:Egypt Today
November 07, 2024 13:55 UTC
Here’s what’s at stake in the Middle East under Trump’s second term
Abu Dhabi and Jerusalem CNN — If his first term in the White House is any indication, President-elect Donald Trump is likely to keep the Middle East high on his agenda. But the Middle East has changed significantly since he left office in 2021, and all regional actors are keenly watching how the new president will navigate these shifts. Here’s how Trump’s election could affect key players in the Middle East:Israel and the PalestiniansEnding the wars in Gaza and Lebanon and integrating Israel in the Middle East are likely to be at the top of the president-elect’s Middle East agenda, analysts said. “When the war will be over, you’ll need a real restart in the Middle East,” and Trump will be the best person to bring about a “new Middle East,” Bismuth added. Nadav Shtrauchler, a political strategist who has worked closely with Netanyahu, said Trump’s election sends a message to Israel’s enemies in Iran.
Source:Egypt Independent
November 07, 2024 08:55 UTC
Trump’s second term will look nothing like his first
CNN —Donald Trump’s election victory will return him to the White House, but both his allies and detractors have made clear his second time around will look nothing like the first. Instead, Trump has found himself relying on people like Donald Trump Jr., Elon Musk and Susie Wiles throughout his third run for the White House. Elon Musk takes the stage during a campaign rally for Donald Trump at Madison Square Garden in New York City, on October 27, 2024. Anna Moneymaker/Getty ImagesRobert F. Kennedy Jr. attends a Donald Trump campaign rally at Macomb Community College in Warren, Michigan, on November 1, 2024. Attorney General William Barr listens to President Donald Trump speak at Mary D. Bradford High School in Kenosha, Wisconsin, on September 1, 2020.
Source:Egypt Independent
November 07, 2024 08:50 UTC
Egypt’s PM assures public on economic reforms, currency stability
Egyptian Prime Minister Mostafa Madbouly has assured the public that the country is on the right track in terms of its economic reforms and that the currency will stabilise. He explained that the International Monetary Fund (IMF) and Fitch Ratings have both recognized Egypt’s success in implementing a flexible exchange rate system, which means that there will be no fixed exchange rate. He addressed concerns about the recent increase in the dollar’s exchange rate, stating that fluctuations are to be expected and that the price is likely to drop again. Madbouly highlighted that international institutions recognize Egypt’s commitment to the correct economic path and anticipate the country’s emergence from its economic difficulties as long as it maintains its current course. Madbouly further pointed out that the IMF predicts a decline in Egypt’s inflation rate.
Source:Daily News Egypt
November 07, 2024 05:28 UTC
EU approves €20m assistance for Egyptian Armed Forces
The European Council on Wednesday approved €20m in assistance for the Egyptian Armed Forces (EAF) under the European Peace Facility (EPF). The funds will be used to bolster the EAF’s capabilities to enhance national security and stability in Egypt, as well as to strengthen civilian protection. This declaration, building on the 2004 Association Agreement, outlines six key pillars for collaboration, including security and defence. The EPF was established in March 2021 to support EU external actions with military or defence implications in partner countries. The EPF allows the EU to fund actions designed to enhance the capabilities of third states and regional and international organisations in military and defence matters.
Source:Daily News Egypt
November 06, 2024 21:42 UTC
Egypt, Estonia leaders discuss bilateral ties, regional issues
Egypt’s President Abdel Fattah Al-Sisi welcomed his Estonian counterpart Alar Karis in Cairo to discuss regional and international issues, notably the Palestinian cause. Al-Sisi stressed the importance of concerted efforts to reach an immediate ceasefire and prevent the region from slipping into a large-scale regional war. He highlighted the keen interest of the Estonian President in bringing a delegation of Estonian businessmen and investors to Egypt to explore potential areas of cooperation, particularly in the energy, mining, education, and food industries. This is akin to the growing engagements in the fields of communications, information technology, and digital transformation, areas in which Estonia excels. The two presidents also discussed ways to enhance tripartite cooperation in Africa to achieve the common interest of all parties.
Source:Daily News Egypt
November 06, 2024 20:29 UTC
Bonyan plans to acquire new administrative buildings in 2025: CEO
Bonyan, a subsidiary of Compass Capital, is planning to acquire new administrative buildings next year as part of its strategic expansion plan. Capital Utilisation for Administrative and Logistics AcquisitionsBonyan plans to use the proceeds from its capital increase to purchase new administrative spaces and buildings. He suggested that individual real estate investment in Egypt is not the most efficient method, and specialized real estate investment firms provide a more effective model than individual unit ownership. Expansion in Egypt’s Commercial Real Estate and Logistics SectorsAboul Fadl sees promising growth potential in Egypt’s commercial real estate sector, expecting it to yield high returns. Challenges in the Egyptian Real Estate Market and Growth ProspectsDespite inflation, currency devaluation, and other challenges, Bonyan remains committed to its growth strategy.
Source:Daily News Egypt
November 06, 2024 05:22 UTC
Tax incentives mark ‘new beginning’ for partnership with private sector: Kouchouck
The Egyptian government has announced a new package of tax incentives aimed at boosting investment and easing the burden on businesses. Kouchouck said the goal is to reduce the tax burden on businesses, attract new investors, and support liquidity. This system includes exemptions from capital gains tax, dividend distribution, stamp duty, registration and documentation fees, and exemption from withholding or advance payments. It also allows for only four value-added tax declarations annually, with the first tax inspection occurring after five years. In addition to the tax incentives, the government is also working on several other initiatives to improve the business environment in Egypt.
Source:Daily News Egypt
November 05, 2024 19:02 UTC
Egypt's Minister highlights climate change challenges, solutions at WUF12
This forum, themed “Everything Starts Locally – Working Together for Sustainable Cities and Communities,” brought together 30,000 participants from 180 countries. She highlighted a significant project supported by the Green Climate Fund to address sea-level rise in seven Egyptian governorates using such solutions. Fouad discussed the findings of Egypt’s green growth policy review, conducted with the Organization for Economic Co-operation and Development (OECD). It focused on examining successful local solutions to empower policymakers in shaping global climate strategies and fostering climate-resilient urban development. The minister pointed out that Egypt’s 2050 National Climate Strategy serves as a comprehensive framework for embedding sustainability into urban development.
Source:Egypt Today
November 05, 2024 17:58 UTC
Egypt’s PM, INTRO Holding discuss Kemet Data Centre Project
Egypt’s Prime Minister Mostafa Madbouly met with representatives of INTRO Holding on Tuesday to discuss the development of the Kemet Data Centre, a significant project within the Suez Canal Economic Zone (SCZone). “The Kemet Data Centre is the first of its kind in the SCZone and will be a major leap forward for data centres in the region and globally,” he said. The SCZone’s Chairperson, Gamal El-Din, confirmed that the Kemet Data Centre is the first project in the zone aimed at exporting services while relying on renewable energy, making it a “Green Data Centre.” He attributed the swift agreement with INTRO Holding to the recently finalised regulations governing the establishment of data centres. The Kemet Data Center will be implemented in four phases, with each phase accommodating 2,500 data transfer cabinets, each with a power capacity of 20 megawatts. In response, INTRO Holding representatives pledged to accelerate the project’s completion within the timeframe set by the Prime Minister.
Source:Daily News Egypt
November 05, 2024 15:21 UTC
Mauritanian president sends handwritten message to Egyptian counterpart
CAIRO – 5 November 2024: Minister of Foreign Affairs Badr Abdel Aty received Tuesday a handwritten message addressed to President Abdel Fatah El-Sisi from his Mauritanian counterpart and that was delivered by Secretary-General of the Mauritanian Presidency Moulay Mohamed al-Aghzaf. Aghzaf is representing President Mohamed Weld El Sheikh al-Ghazwany at the World Urban Forum (WUF 12). Hence, the participation was valued by Minister Abdel Aty who asserted Egypt's eagerness for reinforcing relations in various fields. He also expressed aspiration for holding the second session of the Egyptian-Mauritanian Committee in Nouakchott soon. The minister focused on economic collaboration offering that Egyptian companies implement infrastructure projects planned by Mauritania, and expressing interest in expanding bilateral trade and Egyptian investments in the sectors of energy, agriculture, fisheries, and mining.
Source:Egypt Today
November 05, 2024 14:38 UTC
Who formally declares the winner of the US presidential election?
I’ve also worked on local, congressional, senate and presidential races and now direct an academic research center on politics. The machinery of the Electoral College is complicated, but in short, Americans vote for electors and the electors vote for the president. That fulfills the Electoral College’s duties until the next presidential election. Now, 20 senators and 87 House members must back any challenge to the certification of a state’s Electoral College results. This article was originally published during the 2020 presidential election.
Source:Daily News Egypt
November 05, 2024 09:03 UTC